“We are taking a leadership role in the development of the vanadium flow battery industry in North America based on having the only significant U.S.-based vanadium deposit in the development stage,” said Bill Radvak, president and chief operating officer of American Vanadium.
Demonstrating the viability of renewable power generation combined with vanadium batteries to power mining projects is important to the corporate strategy and our environmental commitment to green energy at the Gibellini, Radvak said.
“In its March 2012 forecast, Lux Research, Inc., estimates grid storage demand will be $113 billion by 2017, at which time Vanadium Flow Batteries are expected to become the battery leader with a 33-percent market share,” Radvak said. “This highlights the growing value of having the only significant in-ground supply of vanadium in the U.S.”
The Gibellini Project is unique in its design to economically produce vanadium electrolyte for the energy storage industry, as well as vanadium pentoxide for the steel and alloying industries.
For more information on American Vanadium’s Gibellini project, visit: www.americanvanadium.com.